more appropriately. The benefits from this union would be seen both in the short and in the long term. In case of a future crisis, the probability of its appearance would decrease, and in case of occurrence it would be less severe. The emergence of fiscal union will ensure more creditability towards developing European countries because risks will be shared among all the state members. Weaker Euro countries would benefit from sharing the same Euro bonds as more creditworthy countries. Also, a centralised fiscal policy will introduce more tools for a particular policy implementation rather than national policies. By transferring some fiscal responsibilities to the centre, it would offset the decrease of some stabilisation capacity at the country level resulted from active control of national budgets. See also Fiscal policies in the Eurozone Fiscal federalism European integration References Economic integration Fiscal federalism